Peloton is by far the most successful business to come out of Kickstarter. In 2013, it published its bike project on the crowdfunding platform with a price of $1,500 and managed to raise $307,332, just slightly over its $250,000 goal.
While most businesses that debut on Kickstarter struggle once the hype dies down, Peloton went from strength to strength.
Peloton CEO, John Foley, had more business acumen than the typical crowdfunded creator. Prior to the launch of Peloton, Foley was the chief of commerce at Barnes & Noble, and was the founder of two successful .com companies.
This experience helped Peloton steer itself to a unicorn valuation in 2017 and IPO in 2019, two very rare milestones for Kickstarter’s alumni.
Peloton has added a treadmill to its line-up and several accessories, such as dumbbells and resistance bands. But the online services is where Peloton separates itself from other exercise equipment businesses.
A large HD screen is fitted on both the bike and the treadmill, which stream Peloton classes. Over 50 instructors run live classes each week, at different intensities, alongside a huge library of pre-recorded content.
Peloton users pay $39.99 a month to access this library, or $12.99 only through the app.
Instead of simply selling the hardware, Peloton aims to be the entire stack for fitness. This is what has propelled it to a $15 billion market cap, although that has declined significantly over the past two years as the company has suffered through hardware recalls and reduced interest post-pandemic.
We have collected data and statistics on Peloton. Read on below to find out more.
Peloton financial year ends in June 30, so Q3 for Peloton is Q1 for most companies.
Peloton key statistics
- Peloton generated $2.79 billion revenue in 2023, a 22% decrease year-on-year
- It posted a net loss in 2023 was $1.2 billion, an improvement of about $1.6 billion on the previous year
- Peloton had 6.3 million active members through its app and connected hardware
- Peloton had three million subscribers in 2024
Health & Fitness App Report 2024
Want to learn more about the health & fitness app industry? In our Health & Fitness App report, we cover financials, usage, downloads, and demographics by age and gender, alongside market share, engagement, and benchmarks.
Peloton overview
| Title | Title 2 |
|---|---|
| Launch date | January 2012 |
| HQ | New York City, US |
| People | John Foley (CEO), Jill Woodworth (CFO), Will J. Lynch Jr (director) |
| Business type | Public (NASDAQ: PTON) |
| Industry | Exercise equipment |
Peloton revenue
Peloton annual revenue decreased by 22% in 2023 to $2.79 billion. It is the company’s second annual decline in revenue.
Peloton quarterly revenue 2019 to 2024 ($mm)
Peloton annual revenue 2019 to 2023 ($bn)
| Year | Revenue ($bn) |
|---|---|
| 2019 | 0.71 |
| 2020 | 1.82 |
| 2021 | 4.02 |
| 2022 | 3.58 |
| 2023 | 2.79 |
Source: Company data
Peloton revenue by segment
For the first time in 2023, Peleton made more money from subscriptions than hardware sales.
Peloton annual revenue by segment 2018 to 2023 ($mm)
Peloton profit
Peloton’s reported a $1.25 billion annual net loss in 2023, far less than the $2.8 billion reported the year before.
Peloton annual net income 2019 to 2023 ($bn)
| Year | Net income/loss ($mm) |
|---|---|
| 2019 | -246 |
| 2020 | -72 |
| 2021 | -189 |
| 2022 | -2828 |
| 2023 | -1259 |
Source: Company data
Peloton users
Peloton refers to users as anyone who has set up an account, most of which receive a very limited version of the subscription service.
Peloton annual users 2019 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2019 | 1.4 |
| 2020 | 3.1 |
| 2021 | 5.9 |
| 2022 | 6.7 |
| 2023 | 6.4 |
Source: Company data
Peloton subscribers
Peloton had 3.03 million subscribers in the second quarter of 2023, a 9.7% increase year-on-year.
Peloton quarterly subscribers 2019 to 2024 (mm)
Peloton annual subscribers 2019 to 2023 (mm)
| Year | Subscribers (mm) |
|---|---|
| 2019 | 0.36 |
| 2020 | 0.71 |
| 2021 | 1.66 |
| 2022 | 2.76 |
| 2023 | 3.03 |
Peloton workouts
637 million workouts were completed on Peloton in 2023, 10.5% more than the previous year.
Number of workouts completed on Peloton 2019 to 2023 (mm)
| Year | Workouts (mm) |
|---|---|
| 2019 | 52.1 |
| 2020 | 164.4 |
| 2021 | 459.7 |
| 2022 | 576.2 |
| 2023 | 637.3 |
Source: Company data
Peloton age demographics
Almost 70% of Peloton users are aged over 35 years old, with only 2% of users in the 18-24 age bracket.
Peloton age demographics 2023 (%)
| Age | Users (%) |
|---|---|
| 18-24 | 2 |
| 25-34 | 29 |
| 35-44 | 37 |
| 45-54 | 21 |
| 55+ | 11 |
Source: Company data
Peloton vs Competitors: Revenue
Peloton makes way more than other fitness apps, due to the high price of its subscription service in comparison to competitors.
Fitness revenue by app 2023 ($mm)
Want to learn more about wellness apps? Check out our Health & Fitness App Report
Peloton FAQ
How many workouts does the average Peloton subscriber do in a month?
In Q4 2021, Peloton subscribers did 19.9 workouts in a month
What is the average age of a Peloton user?
66% of Peloton bike users are aged between 25 and 44 years old
What is the average income of a Peloton user?
62% of Peloton users earn between $50,000 to $150,000, 21% make over $200,000
What is the most popular workout on Peloton?
Cycling is the most popular activity, accounting for 58% of all workouts. This percentage has decreased in recent years, as Peloton has added more equipment and workouts
How many songs are available in Peloton’s library?
Peloton currently has 2 million songs available on its content library, the largest of any audio fitness service
What is the largest turnout to an online class?
23,000 members tuned into a live class in April 2020 (CNBC)
How many instructors work for Peloton?
51 instructors are employed by Peloton
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